nVent Electric plc (NYSE:NVT) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC cut its stake in nVent Electric plc (NYSE:NVT) by 6.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,989 shares of the company’s stock after selling 410 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in nVent Electric were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Nordea Investment Management AB increased its stake in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of nVent Electric during the fourth quarter valued at approximately $1,520,000. LVM Capital Management Ltd. MI boosted its position in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the period. Finally, TT International Asset Management LTD grew its holdings in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after buying an additional 18,376 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVT has been the subject of a number of analyst reports. KeyCorp boosted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $86.17.

nVent Electric Price Performance

NYSE:NVT opened at $71.51 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $73.41 and its 200 day moving average price is $71.27. nVent Electric plc has a 52-week low of $55.46 and a 52-week high of $86.57. The firm has a market cap of $11.79 billion, a P/E ratio of 20.97, a PEG ratio of 2.95 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, January 17th. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is 23.46%.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.